Surplus line broker bond cost
The California Producer Licensing Bureau requires surplus lines brokers to post $50,000 surety bonds. Special lines surplus lines brokers must post $10,000 bonds.
Surety Bonds issues $50,000 surplus line broker bonds for just $500, and bonds for special lines brokers can be issued for just $100. There’s no credit check required, so everyone qualifies instantly.
Why this bond
California surplus line broker bonds ensure that principals (brokers) faithfully comply with the requirements of Chapter 6, Part 2, Division 1 of the Insurance Code of California and all other application provisions.
Special lines surplus lines broker bonds in California ensure that principals (brokers) hold a special lines’ surplus line broker’s license issued by the Insurance Commissioner of the State of California and account for and handle all monies paid to him/her for insurance services appropriately.
If the principal fails to comply with these terms, both bonds protect harmed parties from financial loss up to the full amount of the bond.Ready to purchase your California surplus line broker bond? Connect with our team of surety bond experts now!
Surplus line broker bond Details
Bonds for surplus line brokers and special lines brokers in California remain in full force and effect until the surety cancels the bond or the surety is released from further liability by the commissioner. The surety can cancel the bond by giving written notice of cancellation to the commissioner 30 days prior to the effective termination date.
Become a surplus line broker
Surplus line brokers in California must obtain a license before they can begin work. The process to apply for a surplus line broker license is as follows:
- Complete pre-licensing education requirements (24 hours)
- Pass Property and Casualty Broker-Agent exams prior to submitting license application
- Submit an online license application through FLASH (Fast Licensing Application Service is Here)
- Pay $154 application fee
- Provide live scan fingerprint impressions
- And more
To renew your license, you must fulfill the continuing education requirements (24 hours) for each 2-year license period. Take the first step toward becoming licensed in California by purchasing the surety bond you need instantly without a credit check!
Apply for your surety bond
Get a FREE Surplus Line Broker Bond Quote Today! Click here to begin
- State of California Bond of Surplus Line Broker form
- California Department of Insurance Surplus Line Broker Frequently Asked Questions
- California Department of Insurance FLASH Application
- State of California Bond of Special Lines’ Surplus Line Broker form
- California Department of Insurance Special Lines’ Surplus Line Broker